The National Extended Consumer Price Index (HICP), which measures official inflation in Brazil, rose 0.23% in May, according to the Brazilian Institute of Geography and Statistics (IBGE) on Wednesday (7).
The index is 0.38 points lower than in April and 0.48 points lower than the March HICP.
The prices that had the greatest increase on an annual basis were those of the Healthcare (0.93%) and Home (0.67%) group. In the cumulative result of the last 12 months, inflation rose to 3.94%, below the 4.18% recorded in the previous period.
However, this index is still above the center of the inflation target for 2023, set by the National Monetary Council at 3.25%.
Conversely, the May HICP was lower than market expectations, which expected the index to rise by 0.33%.
Source: Terra
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